from aid to extraction
The Value Always Flowed One Way Foreign Policy & Accountability The Value Always Flowed One Way Thirty Years of American Interest in the Balkans · May 31, 2026 There is a word that has always circulated in development circles: monetization. It sounds like policy. It is, in practice, a direction. After the war in Bosnia and Herzegovina, the United States arrived with a reconstruction model built around what were called counterpart funds. The mechanism worked like this: surplus American agricultural commodities — the overproduction of a heavily subsidized farm sector with nowhere domestic to go — were shipped to Bosnia and sold on local markets. The proceeds funded programs: schools, clinics, civil society organizations, governance initiatives. Western institutions pointed to the results as evidence that aid was working. What they pointed to less often was where the money came from. It came from Bosnian consumers — peop...